1878.] OF THE SENATE. 485

or by any law thereof, upon any of the franchises or prop-
erty of any description or receipts whatsoever of said Com-
pany; provided, that nothing in this Act shall be construed
as exempting any property or franchises of the said Railroad
Company from taxation for county and municipal purposes,
which by existing laws and the decisions of the Court of Ap-
peals of this State, is now held liable to taxation; and the
exemption from taxation created and provided for by the
eighteenth Section of the Act of eighteen hundred and
twenty-six, Chapter one hundred and twenty-three, entitled
"An Act to incorporate the Baltimore and Ohio Railroad
Company," be, and the same is hereby, declared to be modi-
fied to the extent of substituting the tax imposed upon said
Company by the second Section of this Act, in lieu of the tax
imposed by the eighth Section of the Act of eighteen hun-
dred and thirty-two, Chapter one hundred and seventy-five,
but to no further or greater extent, nor otherwise.

Sec. 2. And be it enacted, That the Baltimore and Ohio
Railroad Company; in consideration of the release of its ob-
ligation to pay to the State one-fifth of its receipts for the
transportation of passengers over the Washington Branch of
its road as provided by the eighth Section of the Act of
eighteen hundred and thirty-two, Chapter one hundred and
seventy-five, and in lieu of such payments for the future,
shall pay to the Treasurer, for the use of the State, on or be-
fore the first day of January, in each and every year here-
after, a tax of one-half of one per centum annually on the
gross receipts of all its railroads and branches within the
State of Maryland, including its Metropolitan Branch Road,
and its entire Washington Branch Railroad, and trom all
other sources within this State, for the year ending on the
preceding thirtieth day of September ; and it shall be the
duty of the President or Chief Officer of the Baltimore and
Ohio Railroad Company to exhibit on oath or affirmation to
the Comptroller of the Treasury, on or before the first day of
November, in each and every year an account showing the
total amount of the aforesaid gross receipts of said railroads
and branches within the State of Maryland, including its
Metropolitan Branch P.ailroad and of its entire Washington
Branch Railroad, and from all other sources within this State
for the preceding year, ending on the preceding thirtieth day
of September as aforesaid, and the State tax of one-half of
one per centum thereon.

Sec. 3. And be it enacted, That the Baltimore and Ohio
Railroad Company shall pay, upon the warrant of the Comp-
troller, into the Treasury of this State, on or before the first
day of July, in the year eighteen hundred and seventy-eight,